Bill Title: Amends the Illinois Income Tax Act. Provides that the State earned income tax credit shall be: (i) 19% of the federal tax credit for each taxable year beginning on or after January 1, 2022 and beginning before January 1, 2023; and (ii) 20% of the federal credit for each taxable year beginning on or after January 1, 2023. Requires the Department of Revenue and certain institutions of higher education to provide certain notices concerning the federal and State earned income tax credits. Effective immediately.

Spectrum: Partisan Bill (Democrat 14-0)

Status: (Failed) 2021-01-13 - Session Sine Die [SB3429 Detail]

Text: Latest bill text (Introduced) [HTML]

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